The Westpac McDermott Miller Consumer Confidence Index in New Zealand fell to 94.7 in Q1 2026 from 96.5 in Q4 2025, signalling households became more pessimistic about economic conditions. The survey was conducted in the first two weeks of March, the same time as the war in the Middle East broke out, leading to large increases in fuel costs. Against that backdrop, households have grown a little more nervous about the economic outlook. A growing number of households actually see their financial position had been improving over the past year due to continued strength in export commodity prices, including for New Zealand’s key dairy exports and a large drop in borrowing costs over the past year. However, those improving domestic conditions have now been over taken by more worrying global events. The longer the conflict continues, the larger the resulting disruptions to economic activity and pressure on households' finance will be. source: Westpac Banking Corporation, McDermott Miller

Consumer Confidence in New Zealand decreased to 94.70 points in the first quarter of 2026 from 96.50 points in the fourth quarter of 2025. Consumer Confidence in New Zealand averaged 107.99 points from 1988 until 2026, reaching an all time high of 130.90 points in the second quarter of 1994 and a record low of 75.60 points in the fourth quarter of 2022. This page provides the latest reported value for - New Zealand Consumer Confidence - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. New Zealand Consumer Confidence - data, historical chart, forecasts and calendar of releases - was last updated on March of 2026.

Consumer Confidence in New Zealand decreased to 94.70 points in the first quarter of 2026 from 96.50 points in the fourth quarter of 2025. Consumer Confidence in New Zealand is expected to be 95.00 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the New Zealand Consumer Confidence is projected to trend around 99.00 points in 2027 and 100.00 points in 2028, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2025-12-16 09:00 PM
Westpac Consumer Confidence
Q4 96.5 90.9 91.2
2026-03-17 08:00 PM
Westpac Consumer Confidence
Q1 94.7 96.5 95
2026-06-17 09:00 PM
Westpac Consumer Confidence
Q2 94.7 91


Related Last Previous Unit Reference
ANZ Roy Morgan Consumer Confidence 91.30 100.10 points Mar 2026
Bank Lending Rate 9.77 9.74 percent Feb 2026
Westpac Consumer Confidence 94.70 96.50 points Mar 2026
Consumer Spending 45505.00 45571.00 NZD Million Dec 2025
Electronic Retail Card Spending YoY 7019.00 6907.00 NZD Million Feb 2026
Gasoline Prices 1.51 1.53 USD/Liter Feb 2026
Households Debt to GDP 90.60 90.50 percent of GDP Sep 2025
Households Debt to Income 166.00 165.00 percent Sep 2025
Private Sector Credit 610065.00 608717.00 NZD Million Jan 2026
Retail Sales 0.90 1.90 percent Dec 2025
Retail Sales YoY 4.40 4.50 percent Dec 2025


New Zealand Consumer Confidence
In New Zealand, the Westpac McDermott Miller Consumer Confidence Index measures the level of optimism that consumers have about the performance of the economy. The Consumer Confidence Index is calculated from percentage response to five internationally standardized questions covering consumers' personal financial circumstances, national economic expectations and attitudes to major purchases. It is 100 plus the average of the difference between positive answers and negative responses. A score above 100 shows more optimism than pessimism while a score below 100 denotes more pessimism.
Actual Previous Highest Lowest Dates Unit Frequency
94.70 96.50 130.90 75.60 1988 - 2026 points Quarterly

News Stream
New Zealand Consumer Confidence Weakens in Q1
The Westpac McDermott Miller Consumer Confidence Index in New Zealand fell to 94.7 in Q1 2026 from 96.5 in Q4 2025, signalling households became more pessimistic about economic conditions. The survey was conducted in the first two weeks of March, the same time as the war in the Middle East broke out, leading to large increases in fuel costs. Against that backdrop, households have grown a little more nervous about the economic outlook. A growing number of households actually see their financial position had been improving over the past year due to continued strength in export commodity prices, including for New Zealand’s key dairy exports and a large drop in borrowing costs over the past year. However, those improving domestic conditions have now been over taken by more worrying global events. The longer the conflict continues, the larger the resulting disruptions to economic activity and pressure on households' finance will be.
2026-03-17
New Zealand Consumer Sentiment Improves in Q4
The Westpac McDermott Miller Consumer Confidence Index in New Zealand rose to 96.5 in the fourth quarter of 2025 from 90.9 in the previous period, marking the highest of the year, but remaining just below long-run averages. The increase reflects easing borrowing costs and seasonal cheer, as large numbers of borrowers roll onto lower fixed mortgage rates and households feel some relief at the end of the year. According to Westpac, households are more optimistic about the economy’s trajectory and spending appetites have lifted, supported by lower interest costs and improving sentiment. The survey also noted that the labour market shows some improvements even though job creation remains limited. Regional results were mixed but broadly stronger, with Auckland among the most upbeat areas. These factors, together with firmer commodity prices, suggest that consumer confidence has strengthened heading into 2026 while still short of fully recovered levels.
2025-12-16
NZ Consumer Confidence Dips Amid Rising Costs
The Westpac McDermott Miller Consumer Confidence Index in New Zealand edged lower to 90.9 in the third quarter of 2025 from 91.2 in the previous period, still remaining at historically weak levels. The decline reflects ongoing pressures on households as rising living costs and economic uncertainty weigh on sentiment. According to Westpac, the economy has hit a mid-year soft patch, with higher expenses limiting confidence even as borrowing costs ease. The survey also highlighted weakness in the job market and continued softness in house prices as key concerns. These factors, combined with cost-of-living challenges, suggest that consumer confidence in New Zealand remains fragile.
2025-09-16